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Why doesn’t anyone want to address the elephant in the room, which is affordable housing? Why not convert vacant offices to apartments?
> hopes the tax will drive companies to reexamine their compensation structures Outsource the lowest paid workers to a subcontractor to raise your average employee wage. I’m not sure that has a desirable effect, but it seems this law certainly financially encourages that.
Earlier quoted context omitted.
More likely, this will just result in businesses continuing to leave San Francisco. The pandemic has given most companies a good reason to do so already and my bet is on most of them not returning to their overpriced San Francisco headquarters when this is eventually over.
Or just move it to a smaller office somewhere else in the Bay Area.
But again, the pandemic and rise of remote work makes this hard to predict.
Why doesn’t anyone want to address the elephant in the room, which is affordable housing? Why not convert vacant offices to apartments?
If offices become vacant, what is the motivation to live in the city anyway?
Does anyone have the text of the law, or a detailed description of it? > Under a newly approved law, any company whose top executive earns 100 times more than its average worker will pay an extra 0.1% surcharge on its annual business-tax payment. If a CEO makes 200 times more than the average employee, the surcharge increases to 0.2%, and so on per multiple of 100. What do they mean by "earns," are bonuses included?…
> I'm sure folks will try to game this to get around it, I'm just curious how Lay off everyone making less than 200x the top earner. Move to remote workers where possible, outside contractors where not.
Um, yes? "Critics call John Travolta 'blatantly an actor, playing parts in movies.'"
This design seems really odd. Why target business and CEOs in particular? Why not just have a straightforward high progressive tax? It also seems like it will reward the practice of outsourcing lower-paid job functions, or discourage employers from hiring lower-paid workers generally. The whole thing seems designed as a punitive measure, without really thinking about what incentives it creates.